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Indonesia passes new cryptocurrency trading rules

Feb, 18, 2023 Hi-network.com
Indonesian financial institutions has recognised crypto-assets as acommodities that can be traded on futures market. The Commodity Futures Trading Regulatory Agency, part of the Ministry of Trade, sets the new set of rules for trading crypto-assets on futures exchanges. Under the new regulation cryptocurrency futures exchanges needs to be registered, and approved from the central financial watchdog. Exchanges would need to meet requirements of pay-up capital in worth of$105 million, (1.5 trillion rupiah) and maintain the closing capital balance up to USD$85 million (800 billion rupiah). Trading services would also need to comply with the full anti money-laundering (AML) and combating the financing of terrorism (CFT) framework.

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